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Gbp-cad

GBPCAD has strong downside momentum, could it drop further?Price is rising towards an overlap resistance and could reverse from this level to the 1st support level Entry: 1.70744 Why we like it: There is an overlapping resistance level that aligns with the 50% Fibonacci retracement. Stop loss: 1.71268 Why we like it: There is an overlap resistance Take profit: 1.70247 Why we like it: There is an overlap support Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Short
by VantageMarkets
GBP/CAD little retracement (3/26\2024)Hello Traders it looks like GBP/CAD is going to retrace partially it's last drop Zone 1.70900 is a very good place to jump for 1.722. We anticipate the price to move a bit down and then move toward 1.722. Any break below 1.70700 will invalidate our analysis. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Long
by fortunamarkets
Sell GBPCAD Bearish ChannelThe GBP/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.7262, positioned close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.7185 and 1.7162. Further downside targets could be determined using other technical analysis methods like Fibonacci retracements or extensions. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the channel, ideally around 1.7285. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards. Thank you
Short
by KABHI_FOREX_TRADING
1
Sell GBP/CAD Bearish ChannelThe GBP/CAD pair on the M30 timeframe presents a potential selling opportunity due to the presence of a well-defined bearish channel pattern. This pattern suggests ongoing selling pressure and a higher likelihood of further declines in the coming minutes or hours. Key Points: Sell Entry: Consider entering a short position around the current price of 1.7225, positioned close to the channel resistance. This offers an entry point near a potential reversal zone. Target Levels: Initial bearish targets lie at the previous support levels within the channel, now acting as potential resistance zones: 1.7164 and 1.7130. Stop-Loss: To manage risk, place a stop-loss order above the broken resistance line of the channel, ideally around 1.7252. This helps limit potential losses if the trend unexpectedly reverses and the price breaks back upwards. Thank you
Short
by KABHI_FOREX_TRADING
2
Buy GBPCAD Channel BreakoutThe GBP/CAD pair on the M30 timeframe presents a potential buying opportunity due to a recent upward breakout from a bullish channel pattern. This pattern suggests ongoing buying pressure and a higher likelihood of further advances in the coming minutes or hours. Key Points: Bullish Channel: The price has been trading within an upward-sloping channel defined by two converging lines: a rising support line and a rising resistance line. This ongoing uptrend signals continued buying pressure. Buy Entry: Consider entering a long position around the current price of 1.6995, which sits close to the channel breakout level. This could offer an entry point near a potential continuation of the upward move. Target Levels: Initial bullish targets lie at the resistance levels of 1.7071 and 1.7106, marking previous resistance zones within the channel. Stop-Loss: To manage risk, place a stop-loss order below the support line of the broken channel, around 1.6960. This helps limit potential losses if the price reverses and breaks back down.
Long
by KABHI_FOREX_TRADING
2
GBPCAD Quadruple top on 1D?The GBPCAD pair delivered a solid buy trade last time we analyzed it (October 05 2023, see chart below), easily hitting the 1.71110 Target, on a structure rise: The price is now signaling a bearish call as it has been rejected on the Lower Highs trend-line that started on the July 17 2023 High. This is technically a Quadruple Top if it stays that way and naturally there is strong sell potential behind it. The natural support levels are the 1D MA50 (blue trend-line) and 1D MA200 (orange trend-line), the latter of which is trading exactly on the Higher Lows trend-line, which is our first Target (1.6950). If the price closes below the 1D MA200 and Higher Lows trend-line, we will re-short and target the 0.618 Fibonacci retracement level, which is just below Support 1. What makes selling a stronger probability right now is the formation of a 1D MACD Bearish Cross, which has been a sell signal with 100% accuracy for the whole 2023. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
Buy GBPCAD Triangle PatternFactors Strengthening GBP: Hawkish BoE: Recent hawkish comments from Bank of England (BoE) officials regarding potential interest rate hikes to combat inflation have bolstered the Pound. This has increased its attractiveness compared to the Canadian Dollar. Optimism on UK economy: Despite ongoing Brexit negotiations, positive economic data releases like higher-than-expected GDP growth and retail sales figures paint a picture of a resilient UK economy. This fuels investor confidence in the Pound. Price breaks the Pattern now, its good chance to buy now. Thank you.
Long
by KABHI_FOREX_TRADING
2
GbpCad hold or not to hold?Hello fellow traders , my regular and new friends! Welcome and thanks for dropping by my post. GbpCad at a key turning point ,to see more downside or continue its uptrend if it hold 1.71 band..let's watch and act accordingly. Do Like and Boost if you have learnt something and enjoyed the content, thank you! -- Get the right tools and an experienced Guide, you WILL navigate your way out of this "Dangerous Jungle"! -- ********************************************************************* Disclaimers: The analysis shared through this channel are purely for educational and entertainment purposes only. They are by no means professional advice for individual/s to enter trades for investment or trading purposes. *********************************************************************
by Shadowing_The_Big_Boys
We expect another falling wave for GBP/CADHello Traders In our last GBP/CAD analysis, we predicted the bearish momentum and made 500-600 pips. after a long retracement, we expect another downward wave. it's too soon to judge because we don't have any solid confirmation yet. I guess "CAD" GDP data will clarify the road. However we feel bearish for GBP/CAD, and expect another 800-1100 pips drop in about two months or so. Our technical view has been shown in the chart. If you like it then Support us by Like, Following, and Sharing. Thanks For Reading Team Fortuna -RC (Disclaimer: Published ideas and other Contents on this page are for educational purposes and do not include a financial recommendation. Trading is Risky, so before any action do your research.)
Short
by FortunaInvestments
2